Roth Capital Sticks to Its Buy Rating for Semtech (SMTC)

By Jason Carr

In a report released today, Scott Searle from Roth Capital reiterated a Buy rating on Semtech (SMTCResearch Report), with a price target of $62. The company’s shares opened today at $48.75.

According to TipRanks.com, Searle is a 1-star analyst with an average return of -2.3% and a 34.1% success rate. Searle covers the Consumer Goods sector, focusing on stocks such as Universal Display, Inseego Corp, and Fitbit.

Semtech has an analyst consensus of Strong Buy, with a price target consensus of $57.88, a 18.7% upside from current levels. In a report issued on November 16, Robert W. Baird also reiterated a Buy rating on the stock with a $50 price target.

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Based on Semtech’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $25.17 million. In comparison, last year the company had a net profit of $13.34 million.

Based on the recent corporate insider activity of 152 insiders, corporate insider sentiment is negative on the stock.

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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. It offers signal integrity, protection, wireless and sensing, and power and high-reliability products.